Local Financial Advisor on Market Woes

September 30, 2002 at 8:22 PM EST - Updated July 3 at 3:42 PM

In the 13 years High Mark Financial's Barry Driggers has been a financial advisor in Savannah, he's never seen the market so bad. Today the Dow had been down more than 200 points after a nearly 300-point setback on Friday. Driggers believes the market's inconsistency is a direct result of people's inconsistent feelings.

"Bonds are at an all-time low," he said. "It's just a number of things that people have lost confidence in; they don't know what to do."

People are losing confidence in things like corporate America.

"They're not sure who the next company will be that might have problems," said Driggers.

He also believes America's being on the brink of war is also a reason the market is so volatile.

"People aren't sure what's going to happen," he said. "If it was definite and it was going to go forward, they could make a decision on that, but they still don't know which way it's going to go or what's going to happen."

But Driggers says despite the rough times, he's still telling clients there's no need to panic, and he's offering people who're concerned a bit of free advice: "Talk to an investment advisor, put together a portfolio to meet objectives and to decide what to do with money."

And Driggers is making a prediction about the market. In fact, he says he knows exactly when it the market will go back up--in the future.